Santander establishes two new global businesses for retail and consumer units

Santander Bank has announced that it will consolidate its retail, commercial and consumer activities worldwide. The consolidation will include the creation of two new global businesses: Retail and Commercial and Digital Consumer Bank. The move aims to align Santander’s business with its current global model and strategic goals. The bank aims to add 40 million new customers by 2025 and increase return on tangible capital to 15-17%. With these changes, Santander wants to improve its market position and achieve long-term growth.